Docebo Q2 revenue up 22%

Docebo” or the “Company”), a leading learning platform provider with a foundation in artificial intelligence (AI) and innovation, announced financial results for the three and six months ended June 30, 2024.

“We are pleased to report second quarter results that surpassed our expectations for both revenue and profitability,” stated Alessio Artuffo, Interim CEO, President, and COO.

Second Quarter 2024 Financial Highlights

• Subscription revenue of $49.8 million, an increase of 22% from the comparative period in the prior year, represented 94% of total revenue.
• Total revenue of $53.1 million, an increase of 22% from the comparative period in the prior year.
• Gross profit of $42.8 million, an increase of 22% from the comparative period in the prior year, represented 80.7% of revenue, compared to 80.7% of revenue for the comparative period in the prior year.
• Net income of $4.7 million, or $0.15 per share, compared to net loss of $(5.7) million, or $(0.17) per share for the comparative period in the prior year.

Second Quarter 2024 Business Highlights

• Docebo is now used by 3,898 customers, an increase from 3,591 customers at the end of June 30, 2023.
• Strong growth in Average Contract Value, calculated as total Annual Recurring Revenue divided by the number of active customers, from $48,148 as at June 30, 2023 to $52,822 as at June 30, 2024.
• Notable new customer wins in the quarter include USA Hockey. 

“Our leadership in the learning industry, along with the effective use of AI continue to set us apart from legacy competitors. We look forward to showcasing new capabilities at our upcoming Inspire Conference in Dallas next month,” stated Alessio Artuffo.

Full press release from Docebo: Docebo Reports Second Quarter 2024 Results